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Dryden-area gold project reaches 'permitting milestone' (2 Photos)

Eight area First Nations received $366,000 as part of the environmental study

DRYDEN, ON — The Canadian Environmental Assessment Agency has released its draft environmental assessment report on a proposed gold mine east of Dryden.

It's good news for the developer, as the CEAA concludes the mine is not likely to cause significant adverse environmental effects.

Treasury Metals Inc.'s Goliath Gold Project is located on a 50-square-kilometre property just north of and roughly parallel to Highway 17 between Dryden and Wabigoon.

The company is looking to develop an open-pit mine and a processing facility that would handle up to 2,500 tonnes of ore per day.

Underground operations would commence later in the mine's estimated 12 or 13-year life span.

The CEAA draft report concludes that the potential environmental effects of the mine would be adequately offset by mitigation measures.

In a statement, the agency said the project has benefited from several public and Indigenous consultation opportunities.

Eight area First Nations received a combined $366,000 to help them study the project and provide input.

The CEAA noted that to help mitigate any impact on traditional Indigenous use of the surrounding land, the company would establish an Environmental Management Committee with First Nations.  

The final public comment period in the environmental review process will terminate on July 12, the last day the CEAA will accept written comments on its conclusions to date.

Treasury Metals, in a news release, described the CEAA's draft report as a "permitting milestone."

"With the significant resources our company and stakeholders have invested in the EA process, the full value of our advanced gold development project in northwestern Ontario is near to being realized," said CEO Greg Ferron.

The company has cited several advantages resulting from the project's location, including:

  • year-round road access
  • an on-site power supply
  • Trans-Canada natural gas pipeline
  • industrial services close by in Dryden
  • nearby workforce in surrounding communities

Following the conclusion of the 30-day public comment period for the draft EA, the CEAA will prepare a final EA report for the Minister of Environment and Climate Change, who will then make a final decision on whether the project is likely to cause significant adverse environmental effects.